Packaging is a dominant element in every product design. Consumer goods industries are trying to reduce the time interval between the design of a product and delivery to the point of sale. Ensuring swift packaging is therefore a key to maintaining short time-to-market for consumer products and is a decisive factor in the success of the product.
The global packaging automation market is expected to grow at a CAGR of 4.20%. The market value is estimated to increase from USD 64.00 billion in 2016 to USD 81.92 billion by the end of 2021. Asia-Pacific is the leading market for packaging automation with China and Japan being the major markets in the region. Asia-Pacific and Latin American regions are the fastest growing regions in packaging automation market.
Currently, food packaging segment holds the maximum share of the global market followed by beverages. Household and confectionary markets are also growing at a CAGR of 13.00 % and 8.07 % respectively.
With increasing globalization of production and the intensely competitive nature of the packaging industry, cost cutting becomes imperative as companies are striving to maximize profits; but compromising on quality is not an option as the consumers are increasingly being aware and conscious of the products they use. This has created a great need for automation to be employed in packaging.
The research published on packaging automation covers different automation solutions such as filling, labeling, horizontal/vertical pillow, case packaging, bagging, palletizing, capping, wrapping and others. This report elaborates the situation of packaging automation market, and shows its application in end-user markets such as food, pharmaceutical, cosmetic, household, beverages, chemical, confectionary, warehouse and others along with accurate market metrics.
Need for lean & cost effective manufacturing, increased competition among companies in growth markets, and the necessity for equipment with higher operating efficiency and less downtime are the major drivers decisive in packaging automation market.
Automated equipment requires high capital investment and a higher level of maintenance compared to a manually operated machine. With the economy in flux, this will pose a significant challenge for the growth of this market.
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